JP Markets Review - Is it scam or safe?

RECOMMENDED FOREX BROKERS

Trading Accounts

Account type

Minimum deposit

Minimum trade size

Maximum leverage

Spread

Standard

R3 500

0.01

1:500

2.4 pips on EUR/USD

JP Markets offers its clients a single account type with variable spreads, no commission frees, leverage up to 1:500 and STP market execution. What is more, PAMM services are also available with this broker.

Keep in mind that scalping, hedging and use of automated strategies (EAs) is not allowed with JP Markets.

The Company. Security of Funds

Company

Country

Regulation

JP Markets SA (Pty) Ltd.

South Africa

FSB

JP Markets offers trading in around 30 forex pairs, stock indices, oil, gold and OTHER CFDs on the widely used MetaTrader 4 platform. The company behind the brand, JP Markets SA (Pty) Ltd. is licensed and regulated by the Financial Services Board (FSB), South Africa, FSP 46855. The broker also has presence in Kenya, Pakistan and Bangladesh.

Lately South Africa is seen as a financial market with great potential, as it is one of the most developed countries in Africa. FSB is in charge of the licensing process and supervision of forex brokerages in the country. Besides, the South African regulator has enforcement powers to deal with breaches through the enforcement committee, and runs a customer complaints service, the Office of the Ombud for Financial Services Providers.

Although regulation in South Africa is not among the strictest and most reputable ones, it provides a certain level of reliability. Locally licensed brokers are required to keep all client funds in segregated trust accounts in a recognized bank in the country.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit, required by JP Markets amounts to R3 500, which is a reasonable amount to start with. Other South African brokers, such as Blackstone Futures require more (R5 000).

Average Spreads & Commissions

JP Markets charges no commission fees, yet we find its spreads too wide to be competitive: averaged 2.4 pips on EUR/USD. Although fixed spreads are generally wider than floating ones, Blackstone Futures offers spreads fixed at 1 pips for EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.

Traders, however, should be careful, for higher leverage involves greater risk. That is why limitations on leverage rates are set in many jurisdictions.

Trading Platforms

This broker supports the popular MetaTrader 4 (MT4) platform.

MT4 offers all a trader needs: ease of use, numerous order types, a wide range of technical indicators, extensive back-testing and advanced charting package. The platform is especially valued for its autotrading capacities via Expert Advisors (EA) that allow users to fully automate their trades by and let the program do all the work. Unfortunately, JP Markets does not allow automated strategies.

Methods of Payment

Clients of JP Markets can make deposits and withdrawals from and to their accounts via credit/debit cards, bank and wire transfer, Skrill, Neteller and Bitcoin.

Conclusion

JP Markets is a duly regulated forex and CFD South African broker that supports the robust MT4 platform. Unfortunately, its spreads are high and besides, it imposes many trading restrictions. In a nutshell, here are the Pros & Cons with regards to this broker:

FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.

easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.

HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.

Summary

Traders` reviews for JP Markets

I have started trading with jp markets since january 2018 i have won and lost some trades, unfortunately of recent i was denied from withdrawing my funds from my account whicha over usd 1000 and wanted just $200. Their reasons been they have an arrangement with a company called TMT and directors of tmt have compicts with each other which is affecting us clients. What i dont understand why we are not allowed from withdrawing money from our mt4?

hi I started trading with JP Market on January this year n I hv my made 4 deposit which makes up to R4.200 all together. What confuses me is that I cant make profit on existing account even when the chart are flowing in my favour I just wanna understand what makes that bcs on demo account I'm doing pretty good

I've always liked JP Markets, but since I refunded my account I haven't had much joy. I funded my account but the money didn't reflect,had to complain before it got sorted out. The Deposit bonus wasn't included, had to enquire about that too, after some time it was included. My emails are hardly replied to. And last week Tuesday 17April I made a withdrawal to a Capitec account, until today (24 April 2018) I have not received anything, my account manager hasn't replied to two emails I've sent. I'm really thinking that going back to JP Markets was a wrong move on my side, if every time I need to run around and beg them for basic service.

Hi I am a new client of jp markets and have deposited a sum of R800.00 on my dash account which is 0037568 it doesn't appear on my dash and on my live account platform which is 693498 and will like you guys to help me ASAP cause will like to start my new journey of trading with you guys.

For the first time in my trading experience I feel I was taken advantage of I was in profit but my trades were closed and everything turned to lossess when I checked the actual fee account you sent from the trades I got cut the prices you said you closed the trades from the actual price is not the same not even near it and all my trades yesterday were in profit the trend was in my favour but my account was wiped cleaned by you guys out of the blue. I have complained but waiting for one of your accounts manager on feedback.

well I'm currently trading with JP Markets.. for months now it has been a journey logging into my members login, and when logged in..I can't open a logging account but I can fund my account which I find confusing.. as much as I can open a usd account but can't open a zar account which they do offer.

please attend to our emails/issues of concern cause we losing money

cause honestly speaking I don't know how to feel when my broker has shady tendencies.

I was using JP as my broker and my acc was having 5000 rands but l don't know what happened on 2 January my acc just got to less than 100 rands, like now l am scared to refer some traders to JP markts. so can you clarify for me on that

I've been with JP Markets for more than 6 months and honestly they are the best broker in SA at the moment. They offer me interest on my account balance (no other broker does this). Deposits and withdraws on the same day, (no other broker does this.... with other brokers, it's at least 5-7 days to get your money back) They are FSB regulated and can therefore legally offer copy trader.
I highly recommend them over Hotforex, who has good service but they rob you blind when it comes to getting you money back.

I see the comments below.. and none of them are even related to what JP Markets is in control of. Ayanda Mgobozi seems to be a IB partner so i dont see how JPM can get involved, these clients must take their issues with with Ayanda and not blame JPM for their decisions to choose Ayanda as their IB.

I've withdrawn over 30k with JPM multiple times, yes they do phone you, I spoke to the CO, a chap by the name of Kurt and he explained that this is for security purposes to ensure you are the person making the withdraw. We need to understand that they are regulated by FSB so they have to follow procedures to comply with regulation. This is no mickey mouse broker they are the real deal.

This time I just want to share that Ayanda Mgobhozi is still making people loose their money all in the name of JP Markets. A lady told me she lost money after being convinced by Ayanda that he would help her and her partner trade with JPM.
Given that he still uses the name of JP Markets I think it is discouraging and JP must intervene and help us get our lost moneys or at least get hold of Ayanda. Simple!The last time I phoned I thought I would get something positive as to his whereabouts but it is all quite as if it is business as usual. The next call i received was four days ago from a lady also complaining about Ayanda robbing her.
How many of us must be victims before JP stops him?

I have registered with this broker and send me login details which were invalid,I have tried several times to contact them but no one has responded to my e-mails. people you should be careful with these brokers. now I cannot do anything my money it is there at their dashboard.

one of my accounts appars to have disappeared. i cannot get hold of Ayanda who recruited me and assited with trading. No response from JP Markets.
what mmust i do?
Is this how things are done to vulnerable people like me?

Hi
Please do not trade with this broker . If you withdraw more than 10k you won't get it. They are saying they have to get confirmation from the owner hahahahahaha i withdrew all my money 1 by 1 .shit brocker. Market maker

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